A diversified portfolio including MLP, trust preferred, and mortgage-backed securities can return a decent yield in a market where traditional income sources are lacking, says Sanibel Captiva Investment Advisers' PatDorsey .

You're likely to see red ink in bonds and still-strong year-to-date performance in stocks when you check your portfolio after a rocky second quarter. Our director of personal finance offers tips for what to do next.

For several years, investors have been acting bullish (if not thinking bullish) in bonds , bidding up safe instruments, while the interest in equities is still modest, with the potential for more relative value, says Oaktree's Howard Marks.